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Range_Volume_Ratio_S - indicator for MetaTrader 5
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- Published:
- 2018.06.18 16:24
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Smoothed Range Volume Ratio is an oscillator based on indicator Range_Volume_Ratio. It shows in a separate window, as a histogram, the candlestick size / tick volume ratios by two parameters:
- Difference between Open and Close;
- Difference between High and Low.
It also displays a signal line plotted by the method of smoothing the histogram values.
The color of the histogram columns can be displayed by two methods:
- By the value of the previous column. If the previous column is above the signal line, then the color is green. Otherwise, it is orange;
- One-color histogram - all columns are of one color.
The indicator has four input parameters:
- Calculation type - type of calculations:
- Open/Close - difference between Open and Close;
- High/Low - difference between High and Low.
- Period - smoothing period of the signal line;
- MA Method - signal line calculation method;
- Colors setting - color settings:
- By previous bar position - histogram column color by the value of the previous column;
- One color - one color.
Calculations:
If the calculation type is Open/Close:
RVR[i] = Abs(Open[i] - Close[i]) / Volume[i]
If the calculation type is High/Low:
RVR[i] = (High[i] - Low[i]) / Volume[i]
where:
Volume - the tick volume of the candlestick Signal = Moving average(RVR, Period, Method)
Fig.1. Calculations by Open/Close, one color
Fig.2. Calculations by Open/Close, the color by the value of the previous column
Fig.3. Calculations by High/Low, the color by the value of the previous column
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20922
Indicator of candlestick size / tick volume ratios.
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